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UPDATED: ICON-Taylor Reveals Plan Details For New Arena



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(Sacramento, CA)
Thursday, May 26, 2011

**update** (2:00 p.m. 5/26)  Proposed complex would be 675,000 square feet and could seat 19,600 for concerts, 17,400 for ice shows in purple and blue seats. Steep views for end zones. Variety of luxury boxes on the floor and first level.  Restaurant in n.e. corner. Stage for shows would be in west end. Has access for 6 full size TV trucks as required by NBA. Plans do not include a practice facility for the Kings.  Light Rail and H street run in front. Plans call for transparent panels in front that double as a giant message board. Could open by fall of 2014 with hard open in 2015.

 
 
A source close to the group tells us the plan so far is this:  a 387 million dollar, 700,000 square foot, 18,617 seat building at the Railyards to be completed in four years.
 

What the group doesn't know is how exactly the arena will be funded. Other cities have used a combination of hotel and rental car taxes, bonds supported by a sales tax levied only at the arena, corporate, team, or private operator money. 

 

Those working on the proposal have had only ten days to review the Sacramento Kings' financial papers.  How much the team's owners, the Maloofs, can contribute up front will determine how much public and private money will be needed.  Sacramento Mayor Kevin Johnson believes the Maloofs will end up being only a tenant who pays rent and shares seat revenues with the municipalities that contribute to the arena's construction, but who will not contribute to the construction or benefit otherwise from the arena.

 

The source tells Capital Public Radio that ICON-Taylor believes the arena can be built without the help of the surrounding counties, though such help would be welcome and would benefit those counties financially for years to come.

 

Not surprisingly, the Railyards venue was chosen as the best spot of all the options because it is downtown and only three NBA cities currently have an arena that is not in their respective downtowns: Detroit, Oakland, and Sacramento.

 

Once the ICON-Taylor group delivers its findings, the group and the city will start the clock on the next 100 days in which they hope to formally create a regional coalition, review the technical details of the arena proposal, and develop the funding plan.  Funding would need to be secured by March 1st, 2012, which is the next day the Maloofs could apply to move the Kings.

 

ICON Venue and David Taylor were chosen by the council in February to come up with the best plan for an arena in the greater Sacramento area.

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